February 5, 2020 / 7:06 AM / 11 days ago

Trafigura to take 100% control of its Zimbabwe fuel import business

HARARE, Feb 5 (Reuters) - Commodities trader Trafigura will take control of its Zimbabwe business after buying out local partner Sakunda Holdings, which is owned by a businessman close to President Emmerson Mnangagwa’s government.

Trafigura will increase its stake in Trafigura Zimbabwe to 100%, from 49%. The rest was owned by businessman Kudakwashe Tagwirei’s unlisted Sakunda, which also operated Puma Energy fuel outlets. (Reporting by MacDonald Dzirutwe Editing by Tim Cocks)

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